Sunny Ray really started thinking about money, what it is and where it comes from, back before bitcoin cost a little more than a couple of lattes.

Since then, he’s seen bitcoin sky rocket to over 2000 times that price and explains why he thinks it has long term value, as digital gold. What’s fascinating about the rationale behind his explanation is that that it’s based on two theories of economics and how our society values, prints and uses money.

Sunny gives us a beginner’s look into the philosophy of bitcoin compared to that of fiat money by explaining that with our current system is based on Keynesian Economics where more money is printed every year. And this is very different from bitcoin, which is based on Austrian Economics, where one of the foundational elements of the value of bitcoin as a currency, is its scarcity or the fact that it has a limited supply. And if anyone wants to go deeper, I’ve got more info in the show notes page on the Speaking of Crypto website.

And that’s just one aspect of why bitcoin is considered valuable and we talk about a few others in the show.

If you’re interested more in the philosophy behind bitcoin, I’d recommend:

Andreas M. Antonopoulos – The Internet of Money

Here’s a link to the audio book on iTunes

Sunny also spent a few years living in Bangalore, starting Bitcoin MeetUps and founding Unocoin (a Cryptocurrency Brokerage and Exchange). So we also delve into demonetization in India, the financial uncertainty there and the popularity of actual gold. He tells us a fun fact, that Indian women own more gold than the United States Federal Reserve!

As far as Sunny’s bitcoin background in Toronto, he shares his admiration for Anthony Diiorio, for his vision, the way he thinks big, the fact that he “aims for the stars”. He respects how much he’s done in supporting up and comers in the space and what he’s accomplished with his businesses Ethereum, Decentral and Jaxx and for the blockchain community.

What a great conversation! Here’s more of what we talk about:

Unocoin – Cryptocurrency Brokerage and Exchange

Bitcoin MeetUp, Bangalore

Dr. Ron Paul questioning what money is and where it comes from

End the Fed

Sunny talks about meeting Dr. Ron Paul


Jack Dorsey, founder of Twitter

Occupy Wall Street

Bitcoin as Digital Gold

Bitcoin MeetUp Bombay

Consensus NYC by @CoinDesk

Keynesian Economics

Sunny talked about the fact that “more and more money is printed each year”.

Austrian Economics

Sunny mentions “sound money, limited money.”

Toronto Crypto and Blockchain Space

Anthony Diiorio @diiorioanthony




Trevor Koverko @trevorkoverko


Joseph Weinberg @josephweinberg


Butter coin